Abstract
This article highlights the world experience of developed countries in non-state pension provision, also the way of development of the legislative system of non-state pension provision, forms and methods of organizing and implementing of pension provision in the Republic of Uzbekistan. As well as the essence of new forms and means of social protection of the population and given suggestions for improving legislative system of pension provision.
Highlights
In the conditions of market relations, as a result of the aggravation of social competition and the implementation of the principle «everything for oneself», there are limited opportunities for some citizens by age or health status, that leads to a deterioration in their financial situation and a decrease in living standards
Accumulative pension provision according to its form and method, it has a different appearance in the national legislative systems of different countries in terms of its managerial or other characteristics, according to its original essence, citizens receive that part of their income which they accumulate while they are young, economically active and able to work, for the future in case of social risk as assistance
In article 1 of the Law of the Republic of Kazakhstan «On Pension Provision in the Republic of Kazakhstan» dated June 21, 2013 No105-V (provided for in the new edition by the Law of the Republic of Kazakhstan dated 02.01.2021 No399-VI) it says that «voluntary pension contributions are money contributed by contributors on their initiative to a unified accumulative pension fund and a voluntary accumulative pension fund in favor of the recipient of pension payments in accordance with the procedure determined by the legislation of the Republic of Kazakhstan and the agreement on pension provision at the expense of voluntary pension contributions»
Summary
In the conditions of market relations, as a result of the aggravation of social competition and the implementation of the principle «everything for oneself», there are limited opportunities for some citizens by age or health status, that leads to a deterioration in their financial situation and a decrease in living standards. Accumulative pension provision of citizens, introduced in the Republic of Uzbekistan since January 1, 2005, can be taken into account as one of such forms of pension provision. On December 2, 2004, the Oliy Majlis of the Republic of Uzbekistan adopted the law «On accumulative pension provision of citizens», which entered into force on January 1, 2005 [1]
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